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Segment Reporting | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | 15. SEGMENT REPORTING Our segments are determined in accordance with FASB ASC Topic 280—Segment Reporting and are based upon how the Company analyzes performance and makes decisions. Each segment is comprised of an accredited postsecondary education institution that offers a variety of academic programs. As of June 30, 2023, our two segments are: ♦ Colorado Technical University (CTU) is committed to providing quality and industry-relevant higher education to a diverse student population through innovative technology and experienced faculty, enabling the pursuit of personal and professional goals. CTU is focused on serving adult, non-traditional students seeking career advancement, as well as addressing employer’s needs for a well-educated workforce. CTU offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of June 30, 2023, students enrolled at CTU represented approximately 68% of our total enrollments. Approximately 97% of CTU’s students are enrolled in programs offered fully online. Students at CTU's ground-based campuses take both in-person and virtual classes. ♦ The American InterContinental University System (AIUS or AIU System) is committed to providing quality and accessible higher education opportunities for a diverse student population, including adult and other non-traditional learners and the military community. AIUS places emphasis on the educational, professional and personal growth of each student. AIUS offers academic programs in the career-oriented disciplines of business studies, information technologies, education, health sciences and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of June 30, 2023, students enrolled at AIUS represented approximately 32% of our total enrollments. Approximately 97% of AIUS’ students are enrolled in programs offered fully online. Students at AIUS' ground-based campus take both in-person and virtual classes. Summary financial information by reporting segment is as follows (dollars in thousands):
|  | For the Quarter Ended June 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2023 |  |  | % of Total |  |  | 2022 |  |  | % of Total |  |  | 2023 |  |  | 2022 |
CTU (1) |  | $ | 119,292 |  |  |  | 64.0 | % |  | $ | 100,461 |  |  |  | 59.9 | % |  | $ | 40,451 |  |  | $ | 33,008 |
AIUS (2) |  |  | 67,062 |  |  |  | 35.9 | % |  |  | 66,920 |  |  |  | 39.9 | % |  |  | 17,078 |  |  |  | 10,733 |
Corporate and Other |  |  | 210 |  |  |  | 0.1 | % |  |  | 303 |  |  |  | 0.2 | % |  |  | (9,435 | ) |  |  | (9,795 | )
Total |  | $ | 186,564 |  |  |  | 100.0 | % |  | $ | 167,684 |  |  |  | 100.0 | % |  | $ | 48,094 |  |  | $ | 33,946 |
|  | For the Year to Date Ended June 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2023 |  |  | % of Total |  |  | 2022 |  |  | % of Total |  |  | 2023 |  |  | 2022 |
CTU (1) |  | $ | 243,784 |  |  |  | 63.8 | % |  | $ | 213,609 |  |  |  | 60.9 | % |  | $ | 84,141 |  |  | $ | 76,034 |
AIUS (2) |  |  | 137,902 |  |  |  | 36.1 | % |  |  | 136,452 |  |  |  | 38.9 | % |  |  | 29,081 |  |  |  | 20,256 |
Corporate and Other |  |  | 476 |  |  |  | 0.1 | % |  |  | 582 |  |  |  | 0.2 | % |  |  | (21,792 | ) |  |  | (18,651 | )
Total |  | $ | 382,162 |  |  |  | 100.0 | % |  | $ | 350,643 |  |  |  | 100.0 | % |  | $ | 91,430 |  |  | $ | 77,639 |
|  | Total Assets as of (3) |
|  | June 30, 2023 |  |  | December 31, 2022 |
CTU |  | $ | 263,381 |  |  | $ | 247,510 |
AIUS |  |  | 189,398 |  |  |  | 185,943 |
Corporate and Other |  |  | 560,891 |  |  |  | 523,915 |
Total |  | $ | 1,013,670 |  |  | $ | 957,368 |
(1) CTU results of operations include the Coding Dojo acquisition commencing on the December 1, 2022 date of acquisition. (2) AIUS results of operations include the CalSouthern acquisition commencing on the July 1, 2022 date of acquisition. (3) Total assets are presented on a condensed consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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